Anglo Pacific Group PLC: Mount Ida Magnetite Ro...

FOR:  ANGLO PACIFIC GROUP PLC

LSE SYMBOL:  APF
TSX SYMBOL:  APY

May 2, 2012

Anglo Pacific Group PLC: Mount Ida Magnetite Royalty Acquisition

LONDON, UNITED KINGDOM--(Marketwire - May 2, 2012) - Anglo Pacific Group PLC (the "Company") (LSE:APF)(TSX:APY)
announces that it has acquired 20% of the Mount Ida 1.5% Gross Revenue Iron Ore Royalty ("GRR") from Red Rock
Resources PLC ("Red Rock").

The Company had entered into a proposal with Red Rock (as detailed in the announcement on 6 February 2012) and
subsequent to this a wholly-owned subsidiary of the Company has signed a Royalty Sale Agreement with Red Rock.
The Royalty Sale Agreement provides for a total of US$14 million being paid in three instalments as follows:

--  Tranche 1: US$6 million on completion and agreement of the terms of the
    transaction, for a 0.3% GRR
--  Tranche 2: US$4 million payment for a further 0.225% GRR following the
    results of a positive definitive feasibility study ("DFS"), a formal
    decision to mine and 20% of the pre-production capital costs outlined in
    the DFS being provided for
--  Tranche 3: US$4 million for a further 0.225% GRR following the
    commencement of commercial production, taking the total to a 0.75% GRR

Tranche 1 has now completed with the payment of US$6 million being settled by the payment of US$3,899,99.81
(less some applicable costs) and the issue and allotment of 416,161 ordinary shares in the capital of the
Company to Red Rock. The new shares rank pari passu in every respect with the existing issued ordinary shares
of the Company. Applications will be made to the UK Listing Authority, the London Stock Exchange and the
Toronto Stock Exchange for the new shares to be admitted to the Official List.

Subject to these applications being successful, the Company advises that its issued share capital will comprise
of 109,605,376 ordinary shares of 2p each. The voting rights of all of these shares are identical with each
share carrying the right to one vote. The Company holds no shares in treasury. Therefore, the Company's total
number of voting rights will be 109,605,376. This figure may be used by shareholders as the denominator for the
calculations by which they determine if they are required to notify their interest in, or a change to their
interest in, the Company under the Disclosure and Transparency Rules.

About Anglo Pacific Group PLC

Anglo Pacific Group PLC is a global natural resources royalties company. The Company's strategy is to expand
its mineral royalty interests in long-life mining assets. The Company achieves this through both direct
acquisition and investment in projects at the development and production stage. It is a continuing policy of
the Company to pay a substantial proportion of these royalties to shareholders as dividends.

About Red Rock Resources PLC

Red Rock Resources plc (LSE:RRL) (http://www.rrrplc.com/) is a mineral exploration company focussed on the
discovery and development of gold, iron ore and other materials and has a long association with Jupiter Mines.
The company is involved in projects in Greenland, Australia, Kenya, Malawi, Paraguay and Colombia and is headed
up by Andrew Bell as Executive Chairman.

About the Mount Ida Magnetite Project

The Mount Ida magnetite project is located in Western Australia and is being developed by Jupiter Mines Limited
(ASX:JMS). A scoping study was completed in March 2011 outlining an operation that would transport the
magnetite concentrate along the existing railway from Menzies to Port Esperance on Western Australia's south
coast. A feasibility study is underway for completion by the end of this year. More information is available at
http://www.jupitermines.com/.

Important notice

This news release contains forward-looking statements based on assumptions and reflects Anglo Pacific Group
PLC's expectations, estimates and projections of future events as of the date of this release. Forward-looking
statements include, without limitation, statements regarding the performance, prospects, opportunities,
priorities, targets, goals, objectives, strategies, growth and outlook of Anglo Pacific Group PLC. Often, but
not always, forward-looking statements can be identified by the use of words such as "expects", "anticipates",
"plans", "believes", "estimates", "seeks", "intends", "targets", "projects", "forecasts", or variations
(including negative variations) of such words and phrases, or state that certain actions, events or results
"may", "could", "would", "might" or "will" be taken, occur or be achieved.

Forward-looking statements are based upon certain material factors and assumptions that were applied in drawing
a conclusion or making a forecast or projection, including assumptions and analyses made by Anglo Pacific Group
PLC in light of its experience and perception of historical trends, current conditions and expected future
developments, as well as other factors that are believed to be appropriate in the circumstances. Also, forward-
looking statements involve known and unknown risks, uncertainties and other factors that are beyond the
Company's control and which may cause the actual results, performance or achievement to be materially different
from any future results, performance or achievements expressed or implied by such forward-looking statements.
Such material factors and assumptions and risks and uncertainties include, among others, those described in the
Company's annual information form dated as at June 29, 2010 (available on Anglo Pacific Group PLC's website and
at www.sedar.com), which are incorporated by reference into this release and qualify any and all forward-
looking statements made in this release.

Although Anglo Pacific Group PLC has attempted to identify factors that could cause actual actions, events or
results to differ materially from those described in forward-looking statements, there may be other factors
that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no
assurance that actual results will be consistent with these forward-looking statements. Accordingly, readers
should not place undue reliance on forward-looking statements. The forward-looking statements herein relate
only to events or information as of the date on which the statements are made and, except as specifically
required by law, Anglo Pacific Group PLC undertakes no obligation to update or revise any forward-looking
statements, whether as a result of new information, estimates or opinions, future events or results or
otherwise.

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FOR FURTHER INFORMATION PLEASE CONTACT:

Anglo Pacific Group PLC
Peter Boycott
Chairman
[phone]

OR

Anglo Pacific Group PLC
John Theobald
Chief Executive Officer
[phone]
www.anglopacificgroup.com

OR

Liberum Capital
Chris Bowman
[phone]

OR

Liberum Capital
Christopher Kololian
[phone]

OR

Pelham Bell Pottinger
Lorna Spears
[phone]

OR

Pelham Bell Pottinger
James MacFarlane
[phone]

Anglo Pacific Group Plc